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Home Ownership is Cheaper than Renting


The Brown Team

 RICK BROWN: (239) 322-2313 BRENDA BOOTH-BROWN: (239) 287-8834 Home ownership, in some cases, is 45% cheaper than renting! Trulia released its Summer 2012 Rent vs. Buy Report, and buying was a better deal in all top 100 American cities considered. Trulia conducted this study by looking at the homes for sale and rent on its own site between June 1 and Aug. 31, 2012. For comparisons, it assumed a 3.5 percent mortgage, itemized income tax deductions at the 25 percent federal tax bracket, and a seven-year time horizon before the home is sold. It factored in “all cost components,” including transaction costs, taxes and opportunity costs. Overall, Trulia says, homeownership wins hands down right now. While the buy-versus-rent savings varied greatly among the cities, buying was the best choice in all 100 markets. One Florida metro area made the top five list for home buying affordability. According to Trulia, the monthly cost of homeownership in Lakeland-Winter Haven is $495, while the cost of renting is $1,276 – a 61 percent ($781) savings for those who choose to buy rather than rent. © 2012 Florida Realtors® Read more at: Call us today for more information on home ownership!

The Brown Team

RICK BROWN: (239) 322-2313 BRENDA BOOTH-BROWN: (239) 287-8834

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